AI
Broadcom shares surge as solid forecast eases demand worries for AI chips
[ad_1]
Broadcom CEO on Thursday assuaged investor worries about AI chip demand with a strong second-quarter forecast and hinted about new potential customers that could boost revenue in a highly competitive market.
Its forecast eased concerns about the thirst for AI chips, a day after Marvell Technology’s spooked the market with a tepid forecast. Broadcom shares, which closed down 6%, surged 14% in extended trading after the results.
The chipmaker expects revenue of around $14.90 billion, compared with estimates of $14.76 billion, according to data compiled…
[ad_2]
Source link
You must be logged in to post a comment Login